Paul Vollant
Including Q1-23, Largo has missed the analyst EPS consensus 6 out of 7 periods. The share prices have sunk like a stone from C$21.50 on April 1st 2021 to the current C$6.00 range. And Paul Vollant gets rewarded with a promotion to "Chief Commercial Officer in order to oversee all sales and strategic business development efforts related to the commodity division of the Company. His promotion reflects an unwavering commitment and support of the Company's sales efforts to date, including the establishment and oversight of Largo's sales and trading department".
So the company has lost ~70% of its value in a straight downward line and the guy in charge of sales gets a performance-based reward? Is Largo saying that without Vollant’s “unwavering”support / performance the company’s stock would be valued even lower than the current toilet level? Is Largo saying that Vollant’s “unwavering” support / performance has saved the company from the possibility of going belly up?
During the off-take agreement area Largo’s sales were under the total control of Glencore. Now after acquiring the long awaited commercial independence Largo has no choice but eat out Vollant's hand while the company’s value continues to drop like a stone and the sales guidance continues to be revised downward? Not a good sign, is it?
I for one see Vollant’s promotion more as bad news than anything else. But it’s just me.
DYODD